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作者 Carmichael, David G., author
書名 Future-proofing-valuing adaptability, flexibility, convertibility and options : a cross-disciplinary approach / by David G. Carmichael
出版項 Singapore : Springer Singapore : Imprint: Springer, 2020
國際標準書號 9789811507236 (electronic bk.)
9789811507229 (paper)
國際標準號碼 10.1007/978-981-15-0723-6 doi
book jacket
說明 1 online resource (xvi, 175 pages) : illustrations, digital ; 24 cm
text txt rdacontent
computer c rdamedia
online resource cr rdacarrier
text file PDF rda
系列 Management in the built environment, 2522-0047
Management in the built environment
附註 Introduction -- A General Formulation -- Adaptable Infrastructure -- Project Delivery -- Convertible Contracts -- Real Options -- Investment -- Financial and Energy Options -- Discussion and Conclusions
This book presents a unifying approach to the valuation of incorporated flexibility. Flexibility, in general terms, recognizes future uncertainty and refers to being proactive now so as to secure the future possibility of being able to adapt, convert, or generally introduce a change, if it is worthwhile to do so at the time. That is, deliberate provision is made now in order to have the ability (but not the obligation) to adapt, convert, or change in the future; this change is discretionary, and depends on future circumstances. The applications demonstrated here cover engineering, building, housing, finance, economics, contracts, general management, and project management. The examples are as follows: designing/building features in infrastructure (including buildings and houses) such that the infrastructure can be adapted in response to future changes in climate, demographics, or usage; incorporating features in contracts such that the terms and conditions can be changed in response to changing situations; purchasing rights now such that options exist to buy or sell an asset in the future; structuring a financial investment agreement so that its terms and conditions can be changed in the future; structuring project payments to provide future guarantees of revenue if needed; and designing an operation such that it can be expanded, contracted, abandoned, switched, changed, delayed, or deferred in the future. The level of required mathematics is kept at a very modest level: an undergraduate knowledge of algebra and probability is all that is required. Numerical examples, accompanied by readily understandable diagrams, illustrate the methods outlined. The formulations are kept straightforward and accessible for practitioners and academics alike
Host Item Springer eBooks
主題 Business forecasting
Business enterprises
Economic forecasting
Engineering Economics, Organization, Logistics, Marketing
Project Management
Construction Management
Financial Engineering
Alt Author SpringerLink (Online service)
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